VIAV FY 2020 Earnings Report — Viavi Solutions Inc. Revenue & Financial Results | Market Cap Arena

Viavi Solutions Inc.VIAV

FY 2020 Earnings

Reported August 24, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$1.1B	—	$1.1B	—	0.5%
Op. Income	$90M	—	$77M	—	17.2%
Gross Margin	55.5%	—	54.3%	—	1.2pp
Net Margin	2.5%	—	0.5%	—	2.0pp
EPS (Diluted)	$0.12	—	$0.03	—	256.1%
Free Cash Flow	$104M	—	$94M	—	10.6%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$506M
GROSS PROFIT	$630M
R&D Expenses	$194M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$347M
Other Expenses	$0
Operating Expenses	$540M
Cost & Expenses	$1.0B
OPERATING INCOME	$90M
Interest Income	$7M
Interest Expense	$34M
Other Income/Expenses	$4M
INCOME BEFORE TAX	$94M
Income Tax Expense	$65M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$108M
EBIT	$128M
EBITDA	$236M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$506M
GROSS PROFIT	$630M
R&D Expenses	$194M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$347M
Other Expenses	$0
Operating Expenses	$540M
Cost & Expenses	$1.0B
OPERATING INCOME	$90M
Interest Income	$7M
Interest Expense	$34M
Other Income/Expenses	$4M
INCOME BEFORE TAX	$94M
Income Tax Expense	$65M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$108M
EBIT	$128M
EBITDA	$236M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$29M
Depreciation & Amortization	$108M
Stock-Based Compensation	$45M
Deferred Income Tax	$100.0K
Other Non-Cash Items	-$4M
Change in Working Capital	-$42M
OPERATING CASH FLOW	$136M
Capital Expenditure	-$32M
Acquisitions (Net)	-$3M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$5M
NET CASH FROM INVESTING	-$30M
Net Debt Issuance	$0
Common Stock Repurchased	-$44M
Common Dividends Paid	$0
Other Financing Activities	-$27M
NET CASH FROM FINANCING	-$72M
FREE CASH FLOW	$104M
Net Change in Cash	$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$543M
Short-Term Investments	$2M
Net Receivables	$261M
Inventory	$83M
Other Current Assets	$15M
TOTAL CURRENT ASSETS	$914M
PP&E (Net)	$173M
Goodwill	$381M
Intangible Assets	$148M
Long-Term Investments	$500.0K
Tax Assets	$105M
Other Non-Current Assets	$55M
TOTAL NON-CURRENT ASSETS	$863M
TOTAL ASSETS	$1.8B
Account Payables	$53M
Short-Term Debt	$15M
Deferred Revenue	$55M
Other Current Liabilities	$48M
TOTAL CURRENT LIABILITIES	$233M
Long-Term Debt	$601M
Deferred Revenue NC	$20M
Deferred Tax Liabilities	$24M
Other Non-Current Liabilities	$143M
TOTAL NON-CURRENT LIABILITIES	$832M
TOTAL LIABILITIES	$1.1B
Common Stock	$200.0K
Additional Paid-In Capital	$70.3B
Retained Earnings	-$69.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$166M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$711M
Minority Interest	$0
TOTAL EQUITY	$711M
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$660M
Net Debt	$117M